Build-A-Bear Workshop, Inc. (NYSE:BBW) Sees Large Decrease in Short Interest

Build-A-Bear Workshop, Inc. (NYSE:BBW) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,650,000 shares, a drop of 11.8% from the October 31st total of 1,870,000 shares. Approximately 13.2% of the company’s stock are sold short. Based on an average daily trading volume, of 275,100 shares, the short-interest ratio is presently 6.0 days.

Build-A-Bear Workshop Stock Down 0.4 %

Shares of NYSE:BBW traded down $0.15 during midday trading on Friday, reaching $37.99. The company’s stock had a trading volume of 112,419 shares, compared to its average volume of 219,410. The firm has a market capitalization of $513.62 million, a PE ratio of 10.67 and a beta of 1.54. The stock has a fifty day moving average of $36.33 and a 200 day moving average of $30.71. Build-A-Bear Workshop has a twelve month low of $21.24 and a twelve month high of $40.13.

Build-A-Bear Workshop (NYSE:BBW) last posted its quarterly earnings results on Thursday, August 29th. The specialty retailer reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.07. The firm had revenue of $111.80 million for the quarter, compared to the consensus estimate of $107.90 million. Build-A-Bear Workshop had a net margin of 10.36% and a return on equity of 37.81%. During the same period last year, the firm posted $0.57 earnings per share. Sell-side analysts anticipate that Build-A-Bear Workshop will post 3.72 earnings per share for the current fiscal year.

Build-A-Bear Workshop declared that its board has authorized a stock buyback program on Wednesday, September 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to repurchase up to 23.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Build-A-Bear Workshop Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, November 27th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Wednesday, November 27th. Build-A-Bear Workshop’s dividend payout ratio is currently 22.47%.

Analysts Set New Price Targets

A number of analysts have issued reports on BBW shares. StockNews.com downgraded shares of Build-A-Bear Workshop from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Northland Securities lifted their price objective on shares of Build-A-Bear Workshop from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th.

Insider Activity

In other news, CEO Sharon Price John sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $33.32, for a total value of $1,666,000.00. Following the completion of the sale, the chief executive officer now directly owns 465,004 shares in the company, valued at $15,493,933.28. This trade represents a 9.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vojin Todorovic sold 12,635 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $35.42, for a total value of $447,531.70. Following the completion of the sale, the chief financial officer now owns 90,695 shares of the company’s stock, valued at approximately $3,212,416.90. This represents a 12.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 130,734 shares of company stock worth $4,510,217 in the last three months. Company insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Build-A-Bear Workshop

Institutional investors have recently bought and sold shares of the company. Fortitude Family Office LLC raised its stake in Build-A-Bear Workshop by 705.8% during the third quarter. Fortitude Family Office LLC now owns 1,104 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 967 shares during the period. Quarry LP raised its stake in Build-A-Bear Workshop by 346.6% during the third quarter. Quarry LP now owns 1,295 shares of the specialty retailer’s stock worth $45,000 after purchasing an additional 1,005 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Build-A-Bear Workshop by 211.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,889 shares of the specialty retailer’s stock worth $124,000 after purchasing an additional 3,321 shares during the period. Nisa Investment Advisors LLC raised its stake in Build-A-Bear Workshop by 17.6% during the third quarter. Nisa Investment Advisors LLC now owns 5,812 shares of the specialty retailer’s stock worth $201,000 after purchasing an additional 871 shares during the period. Finally, Lazard Asset Management LLC raised its stake in Build-A-Bear Workshop by 25.2% during the first quarter. Lazard Asset Management LLC now owns 6,782 shares of the specialty retailer’s stock worth $202,000 after purchasing an additional 1,365 shares during the period. 79.30% of the stock is owned by hedge funds and other institutional investors.

About Build-A-Bear Workshop

Build-A-Bear Workshop, Inc operates as a multi-channel retailer of plush animals and related products in the United States, Canada, the United Kingdom, Ireland, and internationally. The company operates through three segments: Direct-to-Consumer, Commercial, and International Franchising. Its merchandise comprises various styles of plush products to be stuffed, pre-stuffed plush products, and sounds and scents that can be added to the stuffed animals, as well as range of clothing, shoes and accessories, and other toy and novelty items, including family sleepwear.